Question: The adjusted ledger accounts of RD Consulting on December 31, 2019, appear as follows.
|
Account Name
|
Balance
|
|
Cash
|
7,700
|
|
Accounts Receivable
|
2,250
|
|
Supplies
|
2,100
|
|
Prepaid Insurance
|
770
|
|
Equipment
|
20,500
|
|
Accumulated Depreciation-Equipment
|
4,400
|
|
Accounts Payable
|
3,450
|
|
Roger Dye, Capital
|
16,500
|
|
Roger Dye, Drawing
|
4,200
|
|
Fees Income
|
19,800
|
|
Supplies Expense
|
820
|
|
Insurance Expense
|
670
|
|
Depreciation Expense-Equipment
|
620
|
|
Salaries Expense
|
3,450
|
|
Utilities Expense
|
1,070
|
Required: Prepare the Balance Sheet and Income Statement columns of the worksheet. Prepare the closing entries for RD Consulting on December 31, 2019. All accounts have normal balances and adjusting entries have been made.
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